Brokerages Expect Boston Scientific Co. (BSX) Will Announce Earnings of $0.38 Per Share

Equities analysts expect Boston Scientific Co. (NYSE:BSX) to post earnings per share of $0.38 for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Boston Scientific’s earnings, with estimates ranging from $0.37 to $0.39. Boston Scientific posted earnings of $0.41 per share during the same quarter last year, which would suggest a negative year over year growth rate of 7.3%. The company is scheduled to report its next quarterly earnings results on Wednesday, July 24th.

On average, analysts expect that Boston Scientific will report full year earnings of $1.56 per share for the current year, with EPS estimates ranging from $1.55 to $1.57. For the next financial year, analysts expect that the company will post earnings of $1.78 per share, with EPS estimates ranging from $1.69 to $1.87. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that follow Boston Scientific.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.01). The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.54 billion. Boston Scientific had a net margin of 18.08% and a return on equity of 24.65%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.33 EPS.

BSX has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $43.00 price target on shares of Boston Scientific in a report on Tuesday, January 8th. Guggenheim reiterated a “buy” rating and set a $48.00 price target on shares of Boston Scientific in a research report on Friday, February 8th. SunTrust Banks reiterated a “buy” rating and set a $47.00 price target on shares of Boston Scientific in a research report on Friday, February 8th. Canaccord Genuity reiterated a “buy” rating and set a $45.00 price target on shares of Boston Scientific in a research report on Monday, February 11th. Finally, Argus lifted their price target on Boston Scientific from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, February 13th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $41.77.

In other Boston Scientific news, EVP David A. Pierce sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $37.10, for a total transaction of $185,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Joseph Michael Fitzgerald sold 44,236 shares of the company’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $40.00, for a total transaction of $1,769,440.00. Following the sale, the executive vice president now directly owns 242,176 shares in the company, valued at $9,687,040. The disclosure for this sale can be found here. Insiders sold 342,352 shares of company stock valued at $13,696,184 in the last three months. Company insiders own 0.66% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. We Are One Seven LLC bought a new position in Boston Scientific during the fourth quarter worth about $27,000. Athena Capital Advisors LLC bought a new position in Boston Scientific in the 4th quarter worth approximately $28,000. Ipswich Investment Management Co. Inc. bought a new position in Boston Scientific in the 4th quarter worth approximately $28,000. Essex Savings Bank bought a new position in Boston Scientific in the 1st quarter worth approximately $31,000. Finally, Hanson McClain Inc. boosted its stake in Boston Scientific by 107.6% in the 1st quarter. Hanson McClain Inc. now owns 903 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 468 shares during the period. 91.61% of the stock is currently owned by hedge funds and other institutional investors.

BSX traded up $0.19 during trading on Friday, hitting $36.96. 101,394 shares of the company’s stock were exchanged, compared to its average volume of 7,859,442. The company has a current ratio of 1.39, a quick ratio of 1.12 and a debt-to-equity ratio of 0.82. Boston Scientific has a fifty-two week low of $29.42 and a fifty-two week high of $41.00. The company has a market cap of $51.97 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 2.20 and a beta of 0.83.

Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.

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Earnings History and Estimates for Boston Scientific (NYSE:BSX)

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